If an invoice indicates that interest at the rate of 2% per month will be charged on overdue amounts, what effective rate of interest will be charged?

Name: If an invoice indicates that interest at the rate of 2% per month will be charged on overdue amounts, what effective rate of interest will be charged?
Brand: Quizplus
Rating: 4.9 (34 reviews)

Question

Quizplus · Accepted Answer

The Answer of If an invoice indicates that interest at the rate of 2% per month will be charged on overdue amounts, what effective rate of interest will be charged?

If an Invoice Indicates That Interest at the Rate of 2